The intent of this essay is to highlight the global reorganization of the asbestos industry over the period 1970-2007. Descriptive analysis illustrates that asbestos consumption in the industrialized countries declined precipitously over this period, in juxtaposition to a notable increase in consumption in the developing countries. In 2007, asbestos consumption in the developing countries was more than two million metric tons but negligible elsewhere in the world economy. The author argues that as asbestos increasingly became the focus of government oversight in the industrialized countries, continued capital accumulation efforts necessitated displacement of risk to the developing countries. The global revitalization of asbestos production and consumption over the period 1970-2007 presents numerous challenges in terms of occupational and environmental health hazards in the developing countries. It has the potential, moreover, to prefigure a significant expansion of asbestos-related disease into the 21st century, absent a global ban on asbestos use.